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ISEQ one of Europe's top performers

Thursday, January 24 12:34:34

ISEQ equity indices enjoyed buoyant returns and were one of the top performing indices in 2012, according to the Irish Stock Exchange's quarterly statistics, published today.

The eight benchmark ISEQ equity indices all showed returns of more than 16pc in 2012.

A comparison of the ISEQ Overall index which grew by 17.1pc in 2012 to 3,397 shows the ISEQ was one of the top performing indices in Europe and outperformed other major equity indices in 2012 such as the FTSE100 (5.8pc), the S and P500 (13.4pc), the NYSE US100 (11.2pc) and the Eurozone benchmark index, the FTSE E300 (13.2pc).

The smaller to mid-sized companies sector performed very strongly, with the ESM index, the benchmark for the Enterprise Securities Market, delivering a return of 27.6pc in 2012 and the small cap index registering 18.1pc growth. The financial index rose by 37.2pc over the year.

With equity trades of 2.42m during 2012, trades in shares quoted on the ISE were at their second highest level ever recorded on the Irish market [2008: 2.52m trades].

The ISE has now recorded in its fifth consecutive year of over 2m trades.

Turnover in Irish shares was up by 14pc in the last quarter in the year with equity turnover of E37.3bn in 2012 [2011: E35.7bn] showing year on year growth of 4.7pc. This positive growth compares very favourably with other exchanges across the EU and North America, many of which experienced a drop in the value of electronic trading in 2012.

All ISEQ bond indices rose in 2012 continuing on from their strong performance of 2011. Five of the six indices delivered double digit growth with four showing exceptional returns of more than 20pc. The best performing bond indices of 2011, the longer term 5 Plus ISEQ Bond index and the 10 Plus ISEQ Bond index, maintained their overall rankings by showing increases of 28pc and 29.3pc for 2012 respectively.

Despite a fall in numbers of trades over the year, turnover in Irish Government Bonds and Treasury Bills rose by 2.8pc in 2012 to E67.1 billion [2011: E65.2bn]. In addition, the primary dealer network for Government Bonds expanded with the addition of Morgan Stanley as a member firm of the ISE in Q4.

Following its decision to re-engage with international bond markets in 2012, the Irish Government, via the NTMA, has successfully raised over E11.7bn in Irish Government bonds and Treasury Bills in 2012.